CROWDFUNDINSIDER · 2026-10-26 17:09 UTC

California Challenges SEC Crypto Proposal Over Reduced State Oversight of Offerings

California's Department of Financial Protection and Innovation opposed an SEC proposal for federal crypto securities exemptions, arguing it would eliminate state pre-sale review authority while leaving only after-the-fact antifraud enforcement. The SEC's Regulation Crypto Assets proposal would create startup and tiered fundraising exemptions up to $5 million and $75 million respectively, with federal preemption of state blue-sky laws for qualified purchaser offerings. California contends the proposal exceeds Congressional intent under the 1996 National Securities Markets Improvement Act and…

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